Anup Prakash Garg v. Enforcement Directorate Thr. Assistant Dire Ctor (Pmla)

Order dasti.

(MUKTA GUPTA) AUGUST 06, 2018

JUDGE 'rk'

* IN THE HIGH COURT OF DELHI AT NEW DELHI % Reserved on: 1st August, 2018 Decided on: 6th August, 2018 + BAIL APPLN. 1061/2018 ANUP PRAKASH GARG ... Petitioner Represented by: Mr.Vikas Pahwa, Sr.Advocate with Mr.Amarjeet Singh Bedi, Mr.P.S.Singhal, Mr.Vijay Shankar and Mr.Tushar Aggarwal, Advocates versus ENFORCEMENT DIRECTORATE THR. ASSISTANT DIRE CTOR (PMLA) ... Respondent Represented by: Mr.Amit Mahajan, CGSC/UOI with Mr.Nitesh Rana, SPP and Mr.Anand Negi, Advocate CORAM: HON'BLE MS. JUSTICE MUKTA GUPTA 1. By this petition, the petitioner seeks bail in case ECIR/HQ/17/2017 recorded by the respondent under the Prevention of Money Laundering Act, 2002 (in short 'PMLA'). CBI registered FIR bearing No.CRBD1/2017/ E/0007 on 25th October, 2017 under Sections 13(2)(1)(d) of the Prevention of Corruption Act, 1988 (in short 'PC Act') read with Sections 420/467/468/471 IPC wherein the applicant was named as an accused on the ground that the directors, M/s.Sterling Biotech Limited (in short 'SBL') were supplying regular money to the applicant. 2. Pursuant to the registration of FIR by CBI, Enforcement Directorate i.e. the respondent herein, recorded the above noted ECIR on 3rd November, 2017 and on the same day, raided the premises of the petitioner. Thereafter, the respondent summoned the petitioner to join the investigation, which he joined on several dates. After the investigation, a complaint was filed by the respondent on 23rd December, 2017 and after arrest of the petitioner on 12th January, 2018, subsequently, qua him complaint was filed on 9th March, 2018 wherein learned Trial Judge took cognizance. Though the precursor to the ECIR as noted above is the FIR registered by the CBI, neither the petitioner has been arrested in the said FIR registered by the CBI nor charge-sheet has been filed thereon. 3. In the supplementary complaint filed by the respondent, petitioner and his company M/s. RAG Buildtech Pvt. Ltd. (in short 'RAG Buildtech') have been arrayed as accused. The allegations against the petitioner in the complaint based on the investigation carried out are that the petitioner was a Director in Andhra Bank from October, 2006 to October, 2009. During the petitioner's tenure as Director of Andhra Bank, SBL group availed credit facilities of ₹23,50,00,000/- from Andhra Bank. Further, the petitioner received cash payments to the tune of ₹1,52,50,000/- on the direction of the promoter of SBL between 2008 and 2009 which was withdrawn from various accounts of SBL group of companies in the form of cash, funded out of the credit facilities availed by SBL group causing wrongful loss to the banks. Statement of Ashok Chotalal Gandhi, an employee of SBL group, was recorded that as per the instructions of Chetan Jayantilal Sandesara, promoter of SBL group payments were made to the petitioner. These facts were revealed after documents were recovered during the search and survey by Income Tax authorities against SBL group of companies on 28th June, 2011. Ashok Chotalal Gandhi gave the break-up of the amount of cash paid to the petitioner on various dates at Mumbai and Delhi amounting to a total sum of ₹1,52,00,000/-. 4. As per the investigation further carried out and also on the basis of statement of the petitioner recorded under Section 50(2) and (3) of PMLA, it was found that money was diverted in purchasing shares in a company named M/s.RAG Buildtech Pvt. Ltd. managed by Anil Garg, son of the petitioner. Further, money was floated from shell companies whereafter RTGS transactions were made to RAG Buildtech. It is alleged that the petitioner through RAG Buildtech utilized the illicit money to the tune of ₹1,15,00,000/- for purchasing a residential flat at Indore for a sum of ₹36.85 lakh on 28th March, 2013, a residential house at Chandralok Colony for ₹1 crore which was further sold for a sum of ₹1,10,27,000/- to some other person on 29th September, 2014, an agricultural land at Indore for ₹85 lakh subsequently sold for ₹90 lakh, an